Seattle Home Prices Continue Surge – up 10% from February

Today, the Standard & Poors / Case-Shiller Index verified that Seattle real estate values have continued to recover, gaining 1.4% in July and extending the gain streak to five consecutive months, reaching their highest level since November 2010.

Nationally, the monthly gain was 1.6% and the five-month gain was 7.8%. Over the past twelve months, Seattle home values are up 3.1% and nationwide values up 1.2%.

Going further back, home values are now at early 2005 levels, 26% below the peak in July 2007.

Inventory in Seattle proper remains extremely low, with about 100 days of supply; a “balanced” market is considered to have 180 days of supply.

The average sales price in Seattle proper was $486,950 for houses and $287,421 for condos.